On June 16, Woori Bank announced that it launched the WON Biz e-MP Service, a first in the Korean financial industry, to integrate business-to-business transaction information (orders, contracts, settlements among others) with financial services.
The WON Biz e-MP Service is an innovative service that links various non-financial data generated in business-to-business transactions with Woori Bank’s system, providing a one-stop solution for everything from order-based production financing loans to the deposit and management of unsettled sales proceeds through corporate banking.
The service includes differentiated financial products, such as Woori CUBE Data Loan, which swiftly supports production funds for selling companies based on purchasing companies’ orders, and the Woori SAFE Deposit Account, which allows unsettled sales proceeds to be deposited separately at financial institutions.
This is expected to enhance the stability of funds for SMEs, improve transparency in sales proceeds management, and strengthen the foundation for win-win cooperation.
The WON Biz e-MP Service offers distinct advantages over other e-MP platforms.
It provides one-stop support from data registration to loan execution on a single corporate banking platform, automates data registration and approval procedures eliminating the need for manual input, imposes no fees and is accessible not only through corporate internet banking but through WON App for corporate customers, thereby significantly enhancing business efficiency and financial accessibility for corporate customers.
“The WON Biz e-MP Service expands non-financial data into financial services,” a Woori Bank official said.
“This service will play a role in increasing the financial accessibility of small and medium-sized enterprises and expanding digital supply chain finance ecosystems. Going forward, Woori Bank will continue to support financial services tailored to the size of each company, along with WON Biz Plaza, the first supply chain finance platform in the financial sector currently in operation in Korea.”
Meanwhile, Woori Bank selected Korea Aerospace Industries (KAI) as the first company to join the WON Biz e-MP Service and signed a mutual support business agreement with KAI.
Initially, the bank plans to offer Woori CUBE Data Loan to KAI’s partners.
It will expand the product range and functionality of the WON Biz e-MP Service by collaborating with Korea Technology Finance Corporation (KOTEC) to develop specialized products in the future.
Woori Bank announces on June 8 that the WOORI Family Volunteer Corps consisting of employees and their families conducted a mural painting volunteer activity at social welfare institutions nationwide.
Mural Painting Volunteer Activities
Woori Bank’s Woori Family Volunteer Corps consisting of employees and their families conducted mural painting volunteer activities at social welfare centers across the country.
According to Woori Bank on June 8, the Woori Family Volunteer Corps will carry out the wall painting volunteer activity a total of eight times nationwide this year.
The first activity began in the flower village of Sangdo-dong, Dongjak-gu, Seoul on April 12, followed by activities at the Seongnam Senior Welfare Center in Gyeonggi Province on April 19, and four other locations in Busan and Daejeon in May.
Staff members of the welfare facilities and local residents expressed their gratitude through thank-you letters, praising the Woori Family Volunteer Corps for creating a comfortable environment and warm emotions through their beautiful murals.
“I wanted to teach my child the joy of volunteering, so I took part in the activity with my child,” said a Woori Bank employee who participated with his child.
“It was a meaningful experience because it went beyond simply painting on a wall and showed that our efforts could give love to someone else.”
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